MP Calls for Imbert’s Investigation Over CAL Scandal

MP for Oropouche West, Dave Tancoo is calling on Finance Minister to tell the truth about the financial state of Caribbean Airlines. Within days of Finance Minister Colm Imbert claiming that Caribbean Airlines Limited (CAL) had made a US $12.1 million profit in 2024, came the startling news that the State Enterprise failed to submit audited accounts for the past nine (9) years. The submission of Annual Reports and accompanying audited financials is a requirement placed on all State Enterprises via the Ministry of Finance Policy document entitled, “State Enterprises Performance Monitoring Manual, 2011” under Section 3.2.5.

According to Tancoo, this raises two equally troubling questions. The first; do audited financials for CAL exist? The last publicly available Audited Financial Statements are for its financial year 2015. From the various media articles, a FOIA request through local Law Chambers was submitted to CAL seeking answers to that very question, in particular, for the period 2016 to 2024. The Airline’s response was reported in the media as follows:

“we wish to advise that no such documentation exists. CAL is currently engaged in the external audit of its accounts for the years 2016 to present and as such has not submitted annual reports to the Minister of Finance for the requested period January 2016 to June 2024. These reports will be prepared and submitted to the Minister of Finance once the audits are completed”

This means that not only is CAL in serious breach of its financial reporting requirement, but it also suggests that this non-compliance was facilitated by Minister Imbert as the Minister with direct responsibility for Caribbean Airlines Limited, as per Gazette No. 158, Vol. 59 of Wednesday 9th September, 2020. Further, the Minister of Finance as Corporation Sole is in charge of the financial affairs of ALL State Enterprises. Try as he may, Colm Imbert cannot abdicate or ignore his responsibility and oversight duty over CAL and must be held equally accountable for the incompetence and shortcomings of CAL’s Board and Executive Management.

The Opposition MP stated, “It is incomprehensible as to why the Minister of Finance would boast about the financial performance of CAL, without using the opportunity to admonish the Company on its non-submission of audited financials for the past nine (9) years. His failure to do so makes the Minister complicit in the disgraceful contempt shown by Caribbean Airlines to the taxpayers of Trinidad and Tobago.”

Tancoo notes the second, equally disturbing concern that if there are no Audited Financials, where then would Imbert have gotten his figures from? Did he mislead the country again? The nation would recall that the Minister was caught in flagrantly misleading the country with the cost of the expansion of the ANR Robinson International Airport in Tobago, deliberately claiming that on December 5th, 2024 that the project was only overrun by US$2.5 million, however a leaked Cabinet note forced the Minister to admit one day later that the overrun was closer to US$17.5 million…..a fact that, as the Minister of Finance, Imbert was and is, in a position to know.

“Why is Colm Imbert continuously providing misinformation to the population? As Minister of Finance in charge of the expenditure of over $570 billion dollars since 2015, Imbert owes a duty of care to provide transparency and accountability in the use of taxpayers’ money. Any attempt to mislead the population is tantamount to misconduct in public office which should warrant the immediate dismissal of such an offensive Minister.”

It is public knowledge that Minister Imbert’s actions have already brought international shame to his office when he was implicated by a UK lawlord for his nasty role in the attack on the integrity of the Auditor General, a question that he is yet to respond to. In a separate judgement, the Privy Council also affirmed that Imbert acted wrongly in removing the former governor of the Central Bank of Trinidad and Tobago. These and other multiple examples of misconduct by Imbert have cost the taxpayers millions in legal fees and fines while Imbert himself has not been made to pay any penalty for his misconduct.

Additionally, MP Tancoo notes that Imbert’s role in facilitating the well-established foreign exchange cabal that has destroyed many small and medium-sized businesses is also well-known.

It is high time that Minister Imbert be personally investigated and penalized for abuse of office instead of being protected and promoted by this Rowley/Young led PNM.